Rise in demand for advice 'driven by pension changes and IHT'
Since the announcement of the government's reforms to the national pension system - which were implemented on April 6th - there has been a sharp rise in demand for financial advice pertaining to retirement, new research reveals.
A study carried out by Investec Wealth & Investment revealed that 37% of advisers have experienced a higher level of inquiries, with 75% of these requests relating to pensions.
A further 60% of respondents were asked about inheritance tax planning, while 40% were approached regarding income and capital gains tax on investments.
Head of Financial Planning at Investec, Chris Aitken, said high property prices have a big impact on inheritance tax, so it is not surprising that demand for support on such matters is high.
"Changes to the pension regime have added to the trend, so it is unsurprising that accountants are increasingly being asked questions about financial planning," he commented.
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